Ten Eleven Ventures

Founding Partners Mark Hatfield and Alex Doll lead the firm alongside General Partners Ryan Floyd and Dan O'Keefe, who were promoted in October 2022. Investment decisions are made collectively by the general partnership, which draws on operating experience at cybersecurity firms and prior venture backgrounds. The firm does not operate with a single controlling CIO.

Yes. Ten Eleven was founded as the first venture capital firm dedicated entirely to cybersecurity, and its mandate has not broadened into generalist software or adjacent sectors. Investments occasionally include infrastructure or data-analytics companies with direct security applications, but the firm does not invest outside the security ecosystem.

Ten Eleven invests from seed through growth equity, typically leading or co-leading rounds. The firm reserves significant capital for follow-on investments in portfolio companies that reach product-market fit. It has participated in early-stage rounds for companies later acquired by CrowdStrike and Palo Alto Networks.

The firm concentrates its investments in North America and Israel, the two largest cybersecurity ecosystems globally. It maintains offices in Burlingame, California and Boston, Massachusetts, and invests across the United States, Canada, and the Israeli cybersecurity corridor.

The firm sources investment opportunities through relationships with government cybersecurity agencies, enterprise chief information security officers, and the intelligence community. Founders Mark Hatfield and Alex Doll built their network over two decades in security-focused venture capital and investment banking, and the firm's annual summits connect portfolio companies directly to large-enterprise CISOs.

Ten Eleven invests directly in companies and does not operate as a fund-of-funds. The firm takes board seats and often leads rounds, acting as the primary institutional investor for its portfolio companies rather than allocating capital to other venture funds.

Known exits include Twistlock (acquired by Palo Alto Networks), Hexadite (acquired by Microsoft), and Verodin (acquired by FireEye, now part of Mandiant). Darktrace, another portfolio company, went public on the London Stock Exchange in 2021. These exits span application security, security operations, and incident response.